GDS Holdings (GDSI) Prices 19.25M ADS IPO at $10/ADS, Below Expected Range

GDS Holdings Limited (Nasdaq: GDS) announced the pricing of its initial public offering of 19,250,000 American depositary shares (“ADSs”), each representing eight of its Class A ordinary shares, at a price to the public of US$10.00 per ADS for a total offering size of approximately US$192.5 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the NASDAQ Global Market today, under the symbol “GDS.”

(NOTE: The company was recently looking for a pricing range of $12 - $14 per ADS.)

In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 2,887,500 ADSs at the initial public offering price.

Credit Suisse Securities (USA) LLC, J.P. Morgan Securities LLC, Citigroup Global Markets Inc., RBC Capital Markets, LLC and China Renaissance Securities (Hong Kong) Limited are acting as joint book-running managers of the offering and Credit Agricole Securities (USA) Inc. is acting as co-manager of the offering.

A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering will be made only by means of a prospectus. Copies of the prospectus related to the offering may be obtained by calling Credit Suisse Securities (USA) LLC at 1-800-221-1037, J.P. Morgan Securities LLC at 1-866-803-9204, Citigroup Global Markets Inc. at 1-212-816-8240, RBC Capital Markets, LLC at 1-877-822-4089, China Renaissance Securities (Hong Kong) Limited at 852-2287-1600 and Credit Agricole Securities (USA) Inc. at 1-212-408-5680.

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